Securities Star News, on April 15, 2024, Jingbei (002987) announced that the company will hold a performance briefing on April 15, 2024, Dadao Industrial Investment Huang Huayan, Hengyue Fund Qian Zhen Wang Xiaoming, Hongyun Private Equity Fund Zhang Liqing, Huaan Securities Lai Zuohao, Huafu Securities Wei Zhengyu Ding Weizhuo, Jianxin Insurance Yang Chen, Junhe Licheng Investment Cui Yufei, Kaiyuan Securities Yan Ning, Maoyuan Wealth Management Zhong Hua, Miyuan Investment Xu Pengfei, Minsheng Securities Ding Chenhui, Oriental Wealth Securities Lu Lin Tong Xinyi, Panhou Momentum (Shanghai) Yu Yuntian, Qibang Investment Gao Ziyang, UBS Securities Wang Guanyi, Ruochuan Asset Hu Xiaojun, Shanxi Securities (Shanghai) Asset Wu Tong, Shenzhen Chengyi Investment Hu Yanan, Sheng Xi Investment Xu Jie, Paradise Silicon Valley Liu Junjie, Southwest Securities Luo Ziying, Industrial Securities Yang Benhong, Jefferies Financial Zhao Xinxin, Xuanbu Investment (Shanghai) Bian Yumo, Asia Pacific Property Insurance Xing Xiaodi, Yongxing Securities Huang Bole, Yuanzhuo Asset Ye Zhigang, Zhanxiang Asset Management Yuan Shao, Great Wall Securities Shen Che, China Merchants Securities Ge Yuhao, Zhengzhou Spruce Investment Li Sheng, Wen Xuechen Jiang Dan of Zhongtai Securities, Zang Yi of Zhongyi Assets, Zhang Wanshu of Guohai Securities, Zhu Zhanyu of China Post Life Insurance, Liu Junwei of China Post Securities, Li Zhongyu and Wang Qianwen of Guojin Securities, Huang Kai of Guolian Securities, Li Bolun of Guotai Junan Securities, Song Liang of Haitong International, and Yang Lin of Haitong Securities participated.
The details are as follows:
Q: What is the pace of information innovation in the banking industry, and what are the prospects for the future?
Answer: At present, financial information innovation has entered a stage of comprehensive promotion. In the past few years, large banks have invested more in this area, and the pace of information innovation is relatively leading, and some large banks have reached the final stage and have basically reached the acceptance level. The overall progress of the 12 joint-stock banks is about a year behind that of the large state-owned banks, and the information innovation of small and medium-sized banks is currently in full swing and may reach its peak next year. Constrained by their own IT technical strength and management level, small and medium-sized banks often adopt a follow-up strategy in terms of information innovation, and will focus on the number of delivery cases of the same type of projects in the industry by suppliers during the bidding process. In the past, the company has accumulated rich project experience in the process of serving large banks' information innovation transformation, which has laid the foundation for the company's future expansion of small and medium-sized banks' information innovation business.
Q: What are the company's considerations for artificial intelligence, and can you share the company's ideas on the technical side or product side around the artificial intelligence technology revolution?
A: We just held a customer conference in Xi'an last week, and it should be said that it was a success overall. The most discussed at this meeting is the large model, around the application of the large model in the field of artificial intelligence, whether it is the head of the state-owned banks, joint-stock banks, city commercial banks, small and medium-sized banks, they have sufficient momentum in the layout of the large model, including some banks have a lot of landing cases. As for Jingbei itself, we are currently actively trying to introduce large model technology in the field of bank anti-fraud, asset management, enterprise knowledge assistant and intelligent testing. Internally, the company's engineer development efficiency has been improved and cost investment has been reduced. Externally, landing cases have also been formed in some business scenarios on the client side. In the field of I large model, the company has sufficient talent reserves and technical reserves.
Q: What is the customer profile in the non-financial sector, and what are the company's expansion goals and specific strategies?
A: The core customers in the non-financial sector are central state-owned enterprises and leading provincial enterprises, which are located in places with good government debt management and sufficient fiscal revenue. At present, the main customers that have been expanded include China Unicom, China Southern Airlines, State Grid and other companies with good financial status. In addition, it also includes central state-owned enterprises such as Guangzhou Baiyun Airport and South-to-North Water Diversion Group, as well as leading provincial enterprises. For customers in the non-financial sector, we penetrate through general-purpose software products and solutions on the one hand, and can also provide business process outsourcing services to customers on the other hand.
Q: What is the company's personnel plan for this year?
A: The company's personnel planning is more flexible and will be matched around the revenue side. Because the company is a personnel-intensive industry, labor costs constitute our main cost, and we must ensure a certain degree of flexibility. We generally make a relatively detailed recruitment plan two months in advance based on future revenue forecasts.
Q: What segments do the company's software products and solutions focus on?
Answer: The company's software products and solutions are divided into two categories, one is general-purpose, not limited to the financial industry, such as process platform, image platform, file management system, Pangeng test platform and so on. Industry application products are mainly used in financial institutions represented by banks, including operation control systems, asset management systems, unified regulatory reporting platforms and channel systems. In 2023, the company's software products and solutions product line will achieve revenue of 935 million, accounting for more than 22% of the company's revenue, leading the growth rate of other product lines.
Q: Will there be a trend of gradual concentration in the future industry competition pattern?
A: Although the current competitive landscape of the entire industry is still relatively fragmented, it has shown a trend of gradual concentration. In the past, there was a high degree of fragmentation of suppliers in the industry, but in recent years, the share of the top suppliers has continued to increase and expand. In addition, under the pressure of the external environment, small and medium-sized enterprises in the industry may face greater survival difficulties, and we believe that the competition pattern of the industry will become more concentrated in the future.
Jingbei (002987) main business: mainly provides information technology services and business process outsourcing services to financial institutions mainly banks.
According to the 2023 annual report of Jingbei, the company's main revenue was 4.242 billion yuan, an increase of 15.48% year-on-year, the net profit attributable to the parent company was 348 million yuan, an increase of 25.44% year-on-year, and the non-net profit was 329 million yuan, an increase of 30.42% year-on-year, of which in the fourth quarter of 2023, the company's single-quarter main revenue was 1.119 billion yuan, an increase of 15.83% year-on-year, and the net profit attributable to the parent company in a single quarter was 98.8332 million yuan, an increase of 11.37% year-on-year; The non-net profit deducted in a single quarter was 94.8235 million yuan, an increase of 17.74% year-on-year, the debt ratio was 17.14%, the investment income was 6.702 million yuan, the financial expenses were 543,100 yuan, and the gross profit margin was 23.32%.
A total of 2 institutions have rated the stock with a buy rating and 2 have given it a buy rating over the last 90 days, with an average institutional price target of 22.01 over the last 90 days.
Here's the detailed earnings forecast information:
Margin data shows that the stock has a net financing outflow of 19,812,800 in the past three months, with a decrease in the financing balance, and a net inflow of 100,300 in securities borrowing and lending, with an increase in the balance of securities borrowing and lending.
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